What is Advanced Analytics, and How Can it Help My Business?
What is advanced analytics? Where to start? Advanced analytics takes analysis to the next level by providing sophisticated techniques designed to get to the heart of data and offer insight and answers with which businesses can make more accurate decisions and develop more dependable, accurate plans and forecasts. Advanced Analytics includes predictive analytics, smart data visualization, and other components.
In today’s business environment, the key to Advanced Analytics lies with tools that are simple enough for business users and will encourage data democratization, user empowerment and accountability and data sharing. That means that Data Discovery Tools must include self-serve features and modules like Smart Data Visualization, with auto-recommended suggestions for how to best visualize data for clarity, as well as self-serve data preparation to allow the average business user to prepare data for analysis without the assistance of an IT staff member or a data scientist.
The solution should also include assisted predictive modeling that provides augmented analytics with natural language processing (NLP) so users can ask questions using normal language and receive answers in the same way. Simplified search analytics are key to user adoption and understanding.
These augmented data discovery tools are crucial to data democratization and to enhancing and supporting business decisions and competitive advantage.